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EX-3.2 - EX-3.2 - Dorman Products, Inc.d355654dex32.htm
EX-3.1 - EX-3.1 - Dorman Products, Inc.d355654dex31.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): May 16, 2017

 

 

Dorman Products, Inc.

(Exact name of Registrant as Specified in Charter)

 

 

 

Pennsylvania   000-18914   23-2078856

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

3400 East Walnut Street, Colmar, Pennsylvania 18915

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (215) 997-1800

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On May 16, 2017, the shareholders of Dorman Products, Inc. (the “Company”) approved certain amendments to the Company’s Amended and Restated Articles of Incorporation and Amended and Restated By-laws to implement a majority voting standard for uncontested director elections, eliminate cumulative voting and increase the maximum number of directors to nine members (collectively, the “2017 Annual Meeting Amendments”). The Company’s Proxy Statement for the 2017 Annual Meeting of Shareholders (the “Proxy Statement”), which was previously filed with the Securities and Exchange Commission on April 3, 2017, described the 2017 Annual Meeting Amendments.

At the meeting of the Company’s Board on May 16, 2017, following the 2017 Annual Meeting of Shareholders, the Board approved an additional amendment to the Company’s Amended and Restated By-laws (“Additional By-law Amendment”).    The Additional By-law Amendment provides a new requirement for shareholders wishing to nominate a person for election to the Company’s Board at a meeting of the Company’s shareholders pursuant to the advance notice requirements set forth in the Company’s Amended and Restated By-laws. Specifically, the new requirement in Article II, Section 2-10(a)(ii) provides that the shareholder’s notice would need to contain a statement as to whether the nominee, if elected, intends to comply with all applicable corporate governance and other policies and guidelines of the Company applicable to directors and in effect during such person’s term in office as a director, including, without limitation, the director resignation provisions set forth in the Company’s Corporate Governance Guidelines. The Additional By-law Amendment became effective on May 16, 2017.

The foregoing description of the amendments to the Company’s Amended and Restated Articles of Incorporation and Amended and Restated By-laws is qualified in all respects by reference to the text of the Amended and Restated Articles of Incorporation, as amended, and the Amended and Restated By-laws, as amended, copies of which are filed as Exhibits 3.1 and 3.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

The Company’s 2017 Annual Meeting of Shareholders (“Annual Meeting”) was held on May 16, 2017. During the Annual Meeting, shareholders were asked to consider and vote upon eight proposals: (1) to elect six directors, each to serve for a term of one year to expire at the next annual meeting of shareholders and until his successor has been elected and qualified or until his earlier death, resignation or removal; (2) to approve, on an advisory basis, the compensation of the Company’s named executive officers; (3) to approve, on an advisory basis, the frequency of the advisory vote on executive compensation; (4) to approve amendments to the Company’s Amended and Restated Articles of Incorporation and Amended and Restated By-laws to implement a majority voting standard for uncontested director elections (which Proposal 4 was contingent upon shareholder approval of Proposal 5); (5) to approve an amendment to the Company’s Amended and Restated Articles of Incorporation to eliminate cumulative voting in director elections; (6) to approve an amendment to the Company’s Amended and Restated By-laws to increase the maximum number of directors to nine members; (7) to approve the Dorman Products, Inc. Employee Stock Purchase Plan; and (8) to ratify KPMG LLP as the Company’s independent registered public accounting firm for the 2017 fiscal year.


On the record date of March 17, 2017, there were 34,555,268 shares of the Company’s common stock issued and outstanding and entitled to vote at the Annual Meeting. For each proposal, the results of the shareholder voting were as follows:

 

  1. The following nominees were each elected to serve as director for a term of one year to expire at the next annual meeting of shareholders and until his successor has been elected and qualified or until his earlier death, resignation or removal based upon the following votes:

 

Name

   For      Withhold Authority  

Steven L. Berman

     26,001,908        1,147,850  

Mathias J. Barton

     26,561,399        588,359  

John J. Gavin

     26,560,502        589,256  

Paul R. Lederer

     26,181,541        968,217  

Richard T. Riley

     26,260,796        888,962  

G. Michael Stakias

     25,709,670        1,440,088  

Broker Non-Votes for the election of directors totaled 1,817,499

 

  2. The compensation of the Company’s named executive officers, as described in the proxy statement, was approved on an advisory basis based upon the following votes:

 

Votes in Favor

 

Votes Against

 

Abstain

 

Broker Non-Votes

26,360,234

  523,611   265,913   1,817,499

 

  3. The proposal on the frequency of future advisory votes on executive compensation received the following votes:

 

One Year

 

Two Years

 

Three Years

 

Abstain

 

Broker Non-Votes

23,830,056

  22,955   3,035,896   260,851   1,817,499

A majority of the votes cast by shareholders voted, on an advisory basis, in favor of holding future advisory votes on executive compensation on an annual basis. Consistent with these results, the Company’s Board has determined to hold the advisory vote on executive compensation every year until the Company is required to hold another advisory vote on the frequency of the advisory vote on executive compensation, which will occur no later than the Company’s annual meeting in 2023.

 

  4. Amendments to the Company’s Amended and Restated Articles of Incorporation and Amended and Restated By-laws to implement a majority voting standard for uncontested director elections were adopted based upon the following votes (and the approval of Proposal 5):

 

Votes in Favor

 

Votes Against

 

Abstain

 

Broker Non-Votes

26,857,379

  31,658   260,721   1,817,499


  5. An amendment to the Company’s Amended and Restated Articles of Incorporation to eliminate cumulative voting in director elections was adopted based upon the following votes:

 

Votes in Favor

 

Votes Against

 

Abstain

 

Broker Non-Votes

21,868,512

 

5,015,119

 

266,127

 

1,817,499

 

  6. An amendment to the Company’s Amended and Restated By-laws to increase the maximum number of directors to nine members was adopted based upon the following votes:

 

Votes in Favor

 

Votes Against

 

Abstain

 

Broker Non-Votes

26,859,604

  25,284   264,870   1,817,499

 

  7. The Dorman Products, Inc. Employee Stock Purchase Plan was approved based upon the following votes:

 

Votes in Favor

 

Votes Against

 

Abstain

 

Broker Non-Votes

26,851,103

  42,325   256,330   1,817,499

 

  8. KPMG LLP was ratified as the Company’s independent registered public accounting firm for the 2017 fiscal year based upon the following votes:

 

Votes in Favor

 

Votes Against

 

Abstain

28,376,851

  315,459   274,947

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit

Number

  

Description

  
3.1    Dorman Products, Inc. Amended and Restated Articles of Incorporation, as amended
3.2    Dorman Products, Inc. Amended and Restated By-laws, as amended


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    DORMAN PRODUCTS, INC.
Date: May 19, 2017    

By:

 

/s/ Kevin M. Olsen

      Name: Kevin M. Olsen
      Title: Senior Vice President and Chief Financial Officer


INDEX TO EXHIBITS

 

Exhibit

Number

  

Description

  
3.1    Dorman Products, Inc. Amended and Restated Articles of Incorporation, as amended
3.2    Dorman Products, Inc. Amended and Restated By-laws, as amended